Lyft, Inc. $LYFT Shares Purchased by Joule Financial LLC

Joule Financial LLC raised its position in Lyft, Inc. (NASDAQ:LYFT) by 105.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,074 shares of the ride-sharing company’s stock after purchasing an additional 50,849 shares during the quarter. Lyft comprises 0.7% of Joule Financial LLC’s investment portfolio, making the stock its 22nd biggest position. Joule Financial LLC’s holdings in Lyft were worth $2,181,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Great Lakes Advisors LLC acquired a new stake in Lyft during the third quarter worth $8,142,000. Innealta Capital LLC purchased a new position in shares of Lyft during the 3rd quarter worth $260,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Lyft during the 3rd quarter worth about $2,080,000. Vanguard Personalized Indexing Management LLC raised its holdings in Lyft by 2.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 35,372 shares of the ride-sharing company’s stock valued at $779,000 after buying an additional 836 shares during the period. Finally, Olympiad Research LP acquired a new position in Lyft in the third quarter valued at about $377,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling

In other Lyft news, Director David Lawee sold 6,578 shares of Lyft stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $22.55, for a total transaction of $148,333.90. Following the completion of the sale, the director directly owned 104,460 shares of the company’s stock, valued at $2,355,573. The trade was a 5.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John David Risher bought 5,030 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were acquired at an average cost of $19.80 per share, for a total transaction of $99,594.00. Following the transaction, the chief executive officer directly owned 11,802,296 shares in the company, valued at approximately $233,685,460.80. This represents a 0.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 187,443 shares of company stock valued at $4,178,618 over the last 90 days. 3.07% of the stock is currently owned by corporate insiders.

Lyft Stock Down 1.9%

Shares of NASDAQ:LYFT opened at $17.20 on Thursday. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $25.54. The firm’s 50 day moving average price is $19.71 and its 200 day moving average price is $18.92. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 45.26, a price-to-earnings-growth ratio of 1.09 and a beta of 1.94.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.17). Lyft had a return on equity of 18.29% and a net margin of 2.40%.The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm earned $0.29 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LYFT shares. Royal Bank Of Canada boosted their price target on shares of Lyft from $21.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. The Goldman Sachs Group boosted their target price on Lyft from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Arete Research set a $20.00 price target on Lyft and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Benchmark reissued a “buy” rating on shares of Lyft in a research note on Tuesday, October 28th. Finally, Sanford C. Bernstein boosted their price target on shares of Lyft from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday, November 10th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.76.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.